|Sayles Werbner Noted as Counsel in Law360 article |
Fairfax Fails In Bid To Recover In "Bear Raid" Suit
|September 12, 2012 11:48 pm|
Law360, New York (September 12, 2012, 7:36 PM ET) -- A New Jersey judge on Wednesday tossed Fairfax Financial Holdings Ltd.'s suit accusing Exis Capital Management Inc. and Morgan Keegan & Co. of participating in a disinformation campaign that cost it billions, finding the harm claimed by Fairfax is not recoverable under state law.
Morris County Superior Court Judge Donald Coburn ruled Fairfax's commercial disparagement damages claims were not supported by New Jersey law, dismissing the case with prejudice, according to attorneys for Exis. Toronto-based Fairfax had claimed as much as $8 billion in damages over a "bear raid" allegedly fueled by false rumors.
The judge's decision comes at the planned start of a six-week trial in the long-running suit that originally named several other defendants.
"Today's ruling is in keeping with what we have said since day one: Our company plays by the rules and this lawsuit should never have been filed in the first place," said Adam Sender, fund manager for Exis, in a statement.
Exis is represented by Sayles Werbner PC.
Morgan Keegan is represented by Greenberg Traurig LLP and Carrington Coleman Sloman & Blumenthal LLP.
The case is Fairfax Financial Holdings Ltd. v. SAC Capital Management LLC, case number 2032-06, in the Superior Court of New Jersey Law Division, Morris County.
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